TD Ameritrade vs Ally Invest is an excellent comparison of two top-notch online stock brokers with a diverse range of investment and online banking products.
To sum it up, Ally Invest is the less expensive version of TD Ameritrade. Trade commissions are lower, margin rates are lower, customer service is still 24/7, and bonds, futures, forex, and high-yield CDs are all available to purchase and trade. We recommend Ally over TD Ameritrade simply because you’ll get a similar investment experience for a fraction of the cost.
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tastyworks vs Robinhood 2018 |
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TD Ameritrade |
Ally Invest |
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Overall |
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Commissions & Fees |
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Customer Service |
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Trading Platforms |
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Mobile App |
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Overall Ease of Use |
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Promotion Value |
N/A |
N/A |
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TD Ameritrade |
Ally Invest |
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Minimum Deposit |
$0 |
$0 |
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Stock Trade Fee |
$6.95 |
$3.95 to $4.95 |
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Options Ticket Charge |
$6.95 |
$3.95 to $4.95 |
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Options per Contract Fee |
$0.75 |
$0.50 to $0.65 |
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Mutual Fund Fee |
$49.99 |
$9.95 |
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Market Data Fee |
Free |
Free |
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Wire fee (outgoing) |
$25 |
$20 |
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Inactivity fee |
None |
None |
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TD Ameritrade |
Ally Invest |
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Stocks |
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Options |
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Futures |
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Forex |
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Bonds |
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OTC Stocks |
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Penny Stocks |
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Options on Futures |
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Crypto |
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Mutual Funds |
12,541 |
10,264 |
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International Trading |
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Advisor Services |
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TD Ameritrade |
Ally Invest |
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Web-based |
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Mobile App |
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Downloadable (Mac) |
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Downloadable (PC) |
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Real-time Level II data |
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Real-time Charting |
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Historical Option Data |
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Options Analysis |
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iPad App |
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TD Ameritrade |
Ally |
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In-person Branches |
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Customer Service hours |
24/7 |
24/7 |
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Sum of Client Balances |
Trillions |
$150bn+ |
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Member FDIC |
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Savings Account |
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Checking Account |
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Free Online Banking |
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TD Ameritrade |
Ally Invest |
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Under $24,999 |
9.75% |
9.25% |
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$25k-$49,999 |
9.50% |
9.00% |
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$50k-$99,999 |
8.50% |
8.25% |
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$100k-$249,999 |
8.25% |
7.00% |
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$250k-$499,999 |
8.00% |
6.00% |
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$500k-$1M |
8.00% |
5.50% |
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Above $1M |
7.25% |
4.75% |
One of the main differences between TD Ameritrade and Ally Invest is that Ally Invest doesn’t have any in-person branches. This is a good thing however, because this means Ally Invest can keep their overhead costs lower and deliver more value to their clients. Another notable difference is thinkorswim, TD Ameritrade’s flagship trading platform.
Although Ally’s platform isn’t downloadable, the web-based platform is highly capable of complex options orders, and thinkorswim isn’t worth paying nearly double on every trade in our opinion.
Trading platforms for options, stocks, bonds, futures, and forex are all free at Ally. You will have to login to Ally’s subsidiary, MB Trading, to complete futures and forex orders. But still, Ally’s futures commission rate starts at $0.85, where as TD Ameritade’s rate starts at $1.50.
Simply put, regardless if you trade actively or passively, you’ll save a significant amount of money by choosing Ally Invest, and you won’t lose out on anything, because you’ll get all of the same features that TD Ameritrade offers.
